Where Can You Sell Foreign Coins?

By Shelly McRae

Foreign coins can be sold several ways. You can sell them to local coin dealers, sell them through magazine and newspaper ads, and sell them on the Internet. There are auctions and coin shows as well. With the many avenues available to you, you should be able to sell your coins for a reasonable profit.

Preparation

Assess your coins so you are well-versed in their condition and value before offering them for sale. Visit your local library or bookstore and obtain a current catalogue that includes information on world coins. One such catalogue would be "Collecting World Coins", published by Krause Publications in Wisconsin. All information on how to use the catalogue is included in the catalogue itself.

Localized Selling

Your local dealer is a viable outlet for selling your coins of lesser value. Dealers do not generally expect to pay full market value for coins. The catalogue value is the price a customer should expect to pay for that coin; a dealer will offer a fair percentage of that price. Common foreign coins, such as coins that are still in circulation in that particular country, will not command full market value. A local dealer may make a reasonable offer for these types of coins.

You may be able to sell foreign coins through ethnic newspapers and magazines. Often, ethnic neighborhoods will have outlets for printed media oriented to the dominant culture of the area. Advertise in these papers to sell those coins that would appeal to those coin collectors.

Auctions and Coin Shows

Auction houses host auctions in which the offerings are for rare and expensive coins and coin-related items. These auctions may advertise in coin collecting magazines and newsletters. Familiarize yourself with such auction houses and use them as an outlet to sell your higher-end foreign coins.

Coin shows have many dealers, including many dealers in foreign coins. Though you may not get market value, you may find a dealer who specializes in your type of foreign coins. This may yield a higher price for you.

Internet

Coin dealers advertise on the Internet just as any other businessperson would. You can select a dealer from the Internet through a search engine. This gives you the opportunity to work with a dealer who specializes or has a specific market available for your type of foreign coins.

Online auction sites, such as ebay.com, are an effective venue for selling foreign coins. You can reach clientele all over the world, including those who would be interested in specific foreign coins. For example, collectors in Britain may be interested in British crowns. The resulting final bid may then be higher than the offer would be from a local dealer.

References

About the Author

Shelly McRae is a freelance writer residing in Phoenix, Ariz. Having earned an associate degree from Glendale Community College with a major in graphic design and technical writing, she turned to online writing. McRae has written articles for multiple websites, drawing on her experience in the home improvement industry and hydroponic gardening.